McEwen Inc. Acquires Strategic Stake in Paragon Geochemical to Accelerate PhotonAssay Technology Adoption

McEwen Inc. has announced agreements to acquire an approximately 31% equity interest in Britannia Mining Solutions Inc., operating as Paragon Geochemical Laboratories Inc., a leading provider of advanced analytical services for the mining sector. The transaction, valued at CDN$15.3 million, will be completed through the purchase of 648,002 Paragon shares from Britannia Life Sciences Inc. and 226,286 shares via a private placement, both at CDN$17.50 per share and payable in McEwen stock. This strategic investment positions McEwen to accelerate the adoption of PhotonAssay technology across the mining industry.

Paragon Geochemical is recognized for its use of PhotonAssay, a rapid, accurate, and non-destructive technology for assaying precious and base metals that offers significant advantages over traditional fire assays. The technology represents a substantial advancement in mining analysis, providing faster results with improved accuracy while eliminating the environmental concerns associated with traditional methods. McEwen already employs PhotonAssay in its exploration programs at the Fox Complex in Ontario and the Gold Bar Mine Complex in Nevada, demonstrating the company's commitment to implementing cutting-edge technologies in its operations.

The acquisition carries important implications for the broader mining industry's adoption of advanced analytical technologies. By taking a significant equity position in Paragon, McEwen is not only securing access to superior assay technology for its own operations but also positioning itself to influence the wider implementation of PhotonAssay across the sector. This move signals a growing recognition among major mining companies that technological innovation in analytical methods can provide competitive advantages in exploration efficiency and operational decision-making.

The investment in Paragon Geochemical aligns with McEwen's broader strategy of leveraging advanced technologies to enhance its mining operations and exploration activities. The company's shares are publicly traded on both the New York Stock Exchange and Toronto Stock Exchange under the symbol MUX. For additional information about McEwen's corporate developments, investors can access the company's newsroom at https://ibn.fm/MUX. The full details of this strategic acquisition are available in the official press release at https://ibn.fm/bot3U.

This transaction represents a significant step forward in the mining industry's technological evolution, as major players like McEwen increasingly recognize the value of investing in companies that develop innovative solutions for mineral analysis. The adoption of PhotonAssay technology has the potential to transform how mining companies conduct exploration and resource estimation, leading to more efficient operations and potentially reducing the environmental footprint of mining activities through more precise targeting and reduced chemical usage.